953
SECRET
LOCAL INTELLIGENCE Comm. TTER ASS
Pol SIT HYC
SCR 1/46 SF 'B'
Alle Sorter
W2713 4 ud
SEA Dus
Rip par 24
3
pars 30-31
PA
Page No.
1
of 10 pages
ages $24.
HUED & File
Copy No. 2. of 23 copies
HKK 053/1
RECEIVED IN REGISTRY NO. STU
0 4 JUN1981
DESK OFFICER
INDEX
VIRY
Takan
CHINA AFFAIRS
LIC HONG KONG
REPORT FOR FEBRUARY 1981
Sid. See Min. Le
26/3
CALD
iJay
REC
Guangdong Provincial Peoples' Congress
The third session of the Fifth Guangdong Provincial
Peoples' Congress began on 24 February, with thirty-one delegates from Hong Kong and Macau taking part. The report by Vice-Governor LIU Tianfu (who, later in the session, was elected as the new Governor) included reassurances to
foreign investors that, despite the economic readjustment in
China generally and some reduction in expenditure on capital
works in Guangdong, the Province would continue to welcome outside participation in its economy, particularly where
foreign exchange earnings were likely to be considerable and
domestic outlay minimal.
Banking and Finance
2.
It was announced that the Beijing exchange control authority had ordered the return to China of unauthorised
foreign currency deposits held abroad by Chinese organisations. However, such organisations in Hong Kong mostly keep their deposits in the Bank of China (BOC) to which the new ruling does not apply. It is therefore unlikely to have any
significant effect locally.
G.F. 316
SECRET #2
/para 3.
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